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Creed Equities Acquires Mixed-use Asset At 149 Spring Street In Soho For $25M

Property Image
SOLD
$25,000,000
Ethan Stanton
Steven Rutman
+ 2

New York

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Mixed-use18,754 SF
Sold
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Property Image
SOLD

Creed Equities Acquires Mixed-use Asset At 149 Spring Street In Soho For $25M

149 Spring Street

See Similar Deals
Mixed-use18,754 SF
Sold
Ethan Stanton
Steven Rutman
+ 2
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1333
Total Square Footage:18754 SF
Transaction Type:Sale

The property asset involved in the transaction is a mixed-use building located at 149 Spring Street in the Soho market of Manhattan. The sale was completed on 9/18/2025, with a total sale price of $25,000,000. The building encompasses a total square footage of 18,754, resulting in a price per square foot of $1,333.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $25,000,000
  • Address: 149 Spring Street
  • Market: Soho, Manhattan
  • Square Footage: 18,754
  • Price Per Square Foot: $1,333
  • Buyer: Creed Equities
  • Seller: EMP Capital Group
  • Brokers: Mike Mazzara, Ethan Stanton, Brendan Maddigan, Guthrie Garvin & Steve Rutman - JLL

Key individuals involved in this transaction include the buyer, Creed Equities, and the seller, EMP Capital Group. The brokers who represented the deal are Mike Mazzara, Ethan Stanton, Brendan Maddigan, Guthrie Garvin, and Steve Rutman from JLL.

Players

Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER

Ethan Stanton
JLL
132 deals$6.1B volume(516) 790-7718
BROKER

Guthrie Garvin
JLL
41 deals$910.9M volume
BROKER

Steven Rutman
JLL
66 deals$8.8B volume
BROKER

Michael Mazzara
JLL
110 deals$3.9B volume(212) 376-5450
BROKER

JLL
BROKERAGE

Details

SOLD
IMAGE: Michael Mazzara, Ethan Stanton, Brendan Maddigan, Steven Rutman & Guthrie Garvin DATE: 9/18/2025 ADDRESS: 149 Spring Street MARKET: Soho, Manhattan ASSET TYPE: Mixed-use BUYER: Creed Equities SELLER: EMP Capital Group BROKERS: Mike Mazzara, Ethan Stanton, Brendan Maddigan, Guthrie Garvin & Steve Rutman - JLL (@JLL) SALE PRICE: $25,000,000 SF: 18,754 ~ PPSF: $1,333

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05